Claiming for mileage when you are self-employed, or a company director is one way of reducing your tax bill and helping to cover those increasing travel costs. Recording your business mileage and understanding the logs you need to keep can be challenging for many new and old business owners, but it doesn’t have to be; […]
Being late with your tax return to HMRC is a pretty big deal. Yet, official figures show that up to 1 million of us fail to file it on time and receive a penalty every year. The annual deadline for completing your self-assessment tax return is January 31st every year (earlier if you do it […]
Self Assessment Tax Return the very words send shivers down the spines of most self-employed people, but it does not have to be all stress and worry! If this is your first time or your 50th time, we have some handy tips to make completing your self-assessment tax return a doddle! Know Your Terminology Whether […]
If you are new to self-employment, you can quickly become overwhelmed with everything you need to do and when you need to do it. One of the most common questions we get asked here at RJF Accounting is what exactly is a self-assessment tax return? This blog will give you everything you need to know […]
When you are first starting in business, there is so much to be thinking about, and you can quickly become overwhelmed and miss vital things that need to be done. One of those is business banking and whether you need to open a dedicated business account or not. Like most things in business, the answer […]
In another of our blog posts, Why Your Startup Needs an Accountant, we addressed why startups need to think about hiring an accountant. This blog post will talk about why you also need to think about bookkeeping as part of that. We will dig into what bookkeeping is, the difference between bookkeeping and accounting and […]
If you do not already have an accountant for your business or are thinking of getting a new one, it can be hard to know where to start. One of the significant factors in choosing an accountant is how much they charge and weighing that up against the benefits of hiring one. While there is […]
When business owners think of an accountant, they think of taxes, financial reporting, or loan applications. And while this is all correct, in reality, this is just the tip of the iceberg. Accountants may be the frontrunners when itcomes to your finances, but they offer so much more than that. One of their value offerings […]
Running a business is hard work with a million things to worry about, and always with costs and profit in the back of your mind. It is easy to think that an accountant is just an unnecessary expense when you can do most of it yourself with a spreadsheet and a calculator. No matter the […]
Regardless of their size or turnover, business owners have a legal obligation to keep their financial records up-to-date and store them properly. Business receipts form part of this, and HMRC may request documentary proof to back up the expense claims in your tax return. They can do at any time, even sometime after the original […]
Choosing the right accountant for you is important. Your accountant needs to be familiar with your business, your needs and your current size. We are startup and scale-up specialists, we are entrepreneurs who understand what it’s like to battle in a business and grow it from the ground up. We understand 21st-century businesses! Crypto, e-commerce, […]
Self Assessment is one of those things. No one enjoys doing it, no one enjoys paying the bill. But the relief once it’s done… well worth it! Of course, if you’re a client of ours then that headache goes away. If your accounts are up to date (and they usually are as we use Xero […]